How to start a successful business on the internet

By M.Farouk Radwan, MSc.

how to start a successful business on the internet

People always ask me how did i start a successful business on the internet? This started happening when i announced that my online business made me a dot com millionaire in august 2010.

20 years ago starting a business meant buying an office, some large equipment, trucks, a factory....etc. The internet age has made the theory that says "that the higher the risk the higher the return" obsolete!

Today we are in the internet age where starting a successful business on the internet for few dollars can bring you hundreds of thousands of dollars.

You don't have to initially invest a large sum of money, you don't have to buy equipment and you don't even need to have an office.

In this article i will tell you how to take advantage of the internet age by telling you how to start a successful business on the internet.

Tips to start a successful business on the internet

  • Its an online business not a website: That's the biggest mistake people make when attempting to start an online business. They think of it as a website rather than an online business that must follow all rules that successful businesses follow.
  • More of the same: Many people start a self help website right after hearing about my success story. They create a website in the same niche, follow the same exact steps i followed then wonder why their businesses didn't succeed. If you want to start a successful business online then you must be creative, being a copycat will only result in letting you find your business ruined few months after you start it.
  • Find a need to satisfy: In the Ultimate guide to becoming rich i said that Your internet business will never become successful before it targets an unmet need and helps people satisfy it. Before Ebay was there people needed to sell their stuff online that's why ebay became very successful.
  • Never over invest: One of the biggest advantages of starting an online internet business is the low cost. Now when you pay a lot of money to a web designer you are actually losing this advantage. Grab a free template anywhere and use a free software such as word press to create and manage your site
  • Read about online marketing: Even if your business was great no one will ever know about it unless you learn how to market it correctly. Don't assume that a good business will market itself else you will end up with a great business that no one knows about
  • Read about other success stories: One of the best ways to inspire yourself to succeed online is to read about the success stories of internet entrepreneurs who managed to make millions and billions from their websites. These stories won't only motivate you but they will also let you know where to start
  • 2 years: Lots of people think that starting a successful business on the internet takes few months but in fact you might wait as much as a year before you can see good results. 2 years are a perfect time frame to set if you are serious about starting a successful business

Problems you will face when attempting to start your internet business

Starting a successful internet business is not an easy task, you will face rejections, downtimes, horrible days, depression (yes its possible), real bad days and you will consider quitting more than once.

As long as you don't give up you will make it. The difference between the entrepreneurs who manage to succeed on the internet and those who don't is the ability to keep going in the face of all the problems they find on their way.

I have managed to become a self made millionaire at the age of 28. This didn't happen by chance because i already wrote that goal down five years before i accomplished it. Becoming rich is not about luck, starting big or being intelligent but its all about having certain beliefs about money and life.

In The Ultimate guide to becoming rich i will teach you everything that you need to know in order to become rich.

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